Govt Fixes Projected Investment In Infra At Rs 38.22 Lakh-Crore
The government has fixed at Rs 38.22 lakh-crore the revised projections for investment in infrastructure in the past five years. This is 1.6 times the investment of Rs 23.77 lakh-crore achieved in 2007-12 at current prices, Finance Minister Arun Jaitley told the Lok Sabha.
Jaitley said the government was conscious that the development of infrastructure was crucial to boosting growth and expanding services in the country. The NITI Aayog's three-year action agenda (2017-18 to 2019-20) has also spelt out how infrastructure development is one of the most crucial elements of economic transformation.
"The total allocation for the infrastructure sector in Budget 2017-18 stands at Rs 3,96,135 crore. The government recently announced a major infrastructure push with launch of the Bharatmala programme," Jaitley said during the Question Hour on December 22.
The finance minister said the infrastructure projects in the country were implemented in public-private and private modes, while the public sector projects were implemented by the Centre, state governments and local bodies.
Jaitley said the government had taken a number of steps to mobilise funds from various sources for development of infrastructure, including launching of innovative financial vehicles such as infrastructure debt funds, real estate investment trusts, national investment and infrastructure fund, laying down a framework for municipal bonds, allowing complete pass through of income tax to securitisation trusts.
With inputs from Housing News